Our favorite mobile personal finance tool, Mint, has been updated for more powerful budgeting and money tracking on the go. The iPhone update lets you enter transactions as they happen, with geo-location to easily select the merchant, plus other improvements.

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The new "Add Transaction" screen includes options for setting the category, transaction tags, and a note and should make keeping track of your spending a lot easier. There are several other improvements to the app that make it more like working on the Mint.com site: you can view recent transactions that Mint has automatically categorized; get alerts on your spending, bills due, and more; see investment performance; add or edit accounts; and view financial recommendations from Mint. (Note: many of these features are available for iPod touch too, though the "Add Transaction" feature was missing for me.)